Party in the USA for Castlery as revenue in its largest market doubles

IN FOCUS

In today’s newsletter, we look at:

• Castlery’s growing presence in the US as it achieves a net profit
• Why online brands are going offline
• The Parentinc’s surprising acquisition of luxury mom and baby retailer Motherswork

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Hi there,

I mainly shop online these days, but sometimes, nothing beats the experience of walking into a store.

Retail stores – even those in malls – are becoming increasingly beautiful and more thoughtfully designed as brands seek a way to create unique experiences for their customers.

The pandemic may have accelerated a shift from offline to online, but the world seems to have found a sweet spot in between, one that combines the convenience of online transactions with the experience of in-person shopping.

We’ve seen the likes of Zalora and Shein running pop-ups so shoppers can get a feel of their products. Such a touchpoint also matters to consumers who seek a connection with brands they love and want to learn about what they stand for.

This is a shift that Castlery co-founder Declan Ee is watching even as the firm reports strong revenue growth for the second year running, as my colleague Simon notes in this week’s Big Story.

Among its three markets – Singapore, the US, and Australia – the online furniture retailer has invested in a physical presence only in Singapore. Ee, however, is exploring ways to blend the online and offline experience.

This theme continues in my Hot Take this week, where I discuss how digitally native brands are launching new experiential stores in a nod to the shifting demands of shoppers.

— Melissa

THE BIG STORY

Castlery reaps fruits of US gambit in FY 23 as revenue grows 63%

Image credit: Timmy Loen

THE HOT TAKE

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